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1 week ago | 
techcabal.com | Sakhile Dube
South African fintech startup SOLmate has doubled its active user base over the past year to about 100,000, driven by soaring demand for eWallet services and new partnerships that expand access to digital payments in underserved areas.
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2 weeks ago | 
techcabal.com | Sakhile Dube
In 2023, Botswana’s fintech ecosystem could be described as nascent; only one recognised startup was operational at the time, and the Fintech Association of Botswana (FAB) had just launched. Today, two promising players, N2 Pay and Pathetic Inc., are preparing to make their mark in the market—each offering distinctive approaches to digital finance in a country where mobile money and digital banking are still taking shape.
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2 weeks ago | 
techcabal.com | Sakhile Dube
In the first quarter of 2025, South Africa experienced a surge in cybercrime incidents, including a major breach in which Parliament’s social media accounts were hijacked to promote a fraudulent cryptocurrency scheme. The growing threat of cybercrime in South Africa, results in millions of people losing their personal information and hard-earned money to increasingly sophisticated cyberattacks.
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2 weeks ago | 
techcabal.com | Sakhile Dube
Capitec Bank, South Africa’s biggest commercial bank by customer base, has increased salaries across its workforce to attract top talent and sustain its high-performance culture amid rising competition for skilled professionals in the financial sector. In its 2024 remuneration report, the Capitec Bank revealed a shift in employee pay scales over the past three years.
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3 weeks ago | 
techcabal.com | Sakhile Dube
BoxCommerce, a South African e-commerce platform that serves SMEs and startups, has launched in Dubai, United Arab Emirates (UAE), betting on the country’s booming mobile commerce market, vast SME sector, and the limited availability of user-friendly e-commerce solutions tailored for local businesses looking to scale. The move positions BoxCommerce among a wave of African startups setting shop in the Middle East’s commercial capital.
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3 weeks ago | 
techcabal.com | Sakhile Dube
Crossfin, a venture capital firm, has invested in DigiSquad, a Johannesburg-based payments advisory and platform provider focused on underserved African markets. Although the investment amount remains undisclosed, the capital injection will drive DigiSquad’s plans to expand financial inclusion across the African continent, targeting both public and private sector clients.
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4 weeks ago | 
techcabal.com | Sakhile Dube |Kosisochukwu Ugwuede |Frank Eleanya |Faith Omoniyi
Zimi, a South African electric vehicle (EV) charging solutions startup, has secured $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa Trust Fund) to test its vehicle-to-grid (V2G) technology in South Africa. Vehicle-to-grid (V2G) is a technology that lets electric cars send power back to homes, businesses, or the electricity grid when needed.
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4 weeks ago | 
techcabal.com | Kenn Abuya |Muktar Oladunmade |Sakhile Dube
Digital lender Tala has laid off 28 employees from its customer operations team, citing a reduced workload due to fewer loan defaults and a drop in customer support queries. In an internal memo seen by TechCabal, the company said the layoffs were necessitated by a shift in how customers repay their loans. An internal memo from February 2025 initially outlined plans to cut 55 roles across Tala’s recovery and customer service teams, citing operational shifts and efficiency measures.
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4 weeks ago | 
techcabal.com | Muktar Oladunmade |Frank Eleanya |Sakhile Dube |Kenn Abuya
Moniepoint, the Nigerian fintech unicorn, has launched Monieworld, its remittance product that allows UK residents to send money directly from a Monieworld account, cards, a British bank account or via Apple Pay and Google Pay to any Nigerian bank account. In a live demo seen by TechCabal, it took just 17 seconds to send £1 to a Moniepoint account, which received ₦2,172—₦53 more than on other remittance platforms like Grey and ₦30 more than Lemfi.
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4 weeks ago | 
techcabal.com | Bunmi Bailey |Adonijah Ndege |Sakhile Dube |Towobola Bambgose
Ten of Nigeria’s biggest banks recorded a 58% surge in e-payments income as digital transactions hit a record high in 2024, according to their latest financial statements. The increase, driven by higher transfer volumes, increased reliance on mobile apps, and card usage across retail channels, is reshaping the traditional profit model of banking in Nigeria.
